Episode
How European crude became oversupplied amid deep supply crisis
- Podcast
- Oil Markets
- Published
- Jun 4, 2026
- Duration seconds
- 839
- Processing state
not_requested
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Summary
The global crude oil market continues to see disrupted exports from the Middle East. Yet, with soft Asian demand and the release of strategic reserves around the world, Europe now finds itself struggling to place excess crude oil barrels ahead of peak summer demand. To examine the latest development in European crude oil balances, S&P Global Energy's Gary Clark, associate director, is joined by frontline price reporters Ernest Puey and Patrick McAllister to unpack supply drivers that have led to the current supply glut.